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It Encourages Impulse Buying
Stealth shopping usually involves hiding purchases that were bought on impulse.
While the occasional splurge wont break the bank, continuously giving in to your impulses will eventually add up.
Knowing that you could hide these purchases and get away with it may fuel this behavior even more.
Andrea Woroch, consumer and money-saving expert, agreed that avoiding places that trigger impulsive buying is very important.
If you cant walk into a particular retailer without overspending, then dont go in, Woroch said.
Set time rules and always give yourself 24 hours to sleep on an impulse purchase.
Additionally, paying cash can limit your impulse spending habits.
Pay with cash when possible, Woroch said.
You cant spend more than you brought.
Establish aclear and realistic budgetthat includes discretionary spending.
This allows for indulgences within limits and reduces the need to hide purchases.
Identify both short- and long-term goals that you both commit to.
This helps partners feel more motivated to stick to a budget and savings plan.
However, these repeated purchases can result in high credit card debt.
When purchases are made on credit to conceal them, it can result in mounting debt, McCullough said.
The interest on this debt can compound over time, leading to a cycle of financial instability.
Establish clear financial goals, such as saving for a vacation or paying off debt, he said.
This provides motivation to curb unnecessary spending and focus on long-term benefits.
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